FM Capital steps up automotive investments with new $150 million fund

May 27, 2021

First Move Capital, the Boulder-based venture firm that has invested in used car marketplaces Frontier Auto Group and Vroom as well as mobility-as-a-service startup Via, has closed a new $150 million fund that will focus on the automotive and transportation sectors.

Indigo Tech Raises Capital, Adds Leadership, and Announces Partnership to Deliver Ultraefficient EVs

May 24, 2021

Indigo Technologies, a lightweight electric vehicle OEM, founded by MIT professor Ian Hunter, and inventor of the world's first robotic wheel with integrated electric suspension and propulsion, announces the company has closed additional funding, now exceeding $110 million in total capital raised.

AUTOPAY and DigniFi Partner to Help Drivers Save Money Through Refinancing

May 12, 2021

AUTOPAY, a platform for new car loans and auto refinancing, and DigniFi, an automotive financing platform, today announced a partnership to help drivers reduce their monthly car payments. AUTOPAY will offer refinancing options to drivers who have improved their credit by making timely payments on auto service financing and other financial products offered through DigniFi. 

Outrider CEO: ‘Yard of the future’ is autonomous and electric

April 27, 2021

Trucks idling in lines to check in at distribution centers due to inefficient yard operations have no place in the “yard of the future,” Andrew Smith, CEO and founder of Outrider, told FreightWaves. In this future yard, electric trucks autonomously and efficiently reshuffle and move trailers from one place to another. 

Indigo Introduces an EV Built for the Gig Economy

March 10, 2021

Weight is one of the biggest killers of electric-vehicle range. The average sticker price for an EV in the U.S. is over $50,000 and the average weight is 4,000 lbs. — a ratio that necessitates 95% of the electricity for most trips to be used to transport the car’s own mass.

Gatik Electrifies Autonomous Fleet, Explains Path to Profitability

February 17, 2021

Gatik, an autonomous technology company specializing in B2B short-haul logistics, announced its electrification strategy with the introduction of the industry’s first electric box trucks equipped with autonomous technology. The first of these new trucks are on Ford Transit 350 HD chassis with an electric powertrain from Via Motors Inc. The first three will deploy for Walmart in New Orleans in February. 

Fleets and EVs Could Pose Greatest Cyber Risk, Says GuardKnox

January 12, 2021

Connected Fleets and EVs could be at the biggest risk of future mass infrastructure cyber hacks that automakers will have to gear up to prevent.

That’s the view of  Moshe Shlisel, CEO of cyber-security specialist GuardKnox who points out that these automotive sectors have become important parts of a nation state’s core infrastructure. 

Walmart will use fully driverless trucks to make deliveries in 2021

December 15, 2020

Walmart will use fully autonomous box trucks to make deliveries in Arkansas starting in 2021. The big-box retailer has been working with a startup called Gatik on a delivery pilot for 18 months. Next year, the two companies plan on taking their partnership to the next level by removing the safety driver from their autonomous box trucks.

Meet The Startup That Has Raised $118M To Automate Critical Distribution Yards

December 1, 2020

Imagine passing a colorful, logo-laden semi-trailer on the highway, as it heads back from a large retail supermarket chain to a massive distribution yard located outside a warehouse. Once it enters the yard, the truck, alongside hundreds of others, must quickly unload crates, empty cardboard boxes and leftover food, reload more product and hit the road again.  

Mayor Fulop hails Via as “Jersey City success story”

November 30, 2020

Mayor Steven M. Fulop announces New Jersey’s first municipal-subsidized, on-demand shared ride service, Via Jersey City, is a major success for the community, breaking records in ridership and exceeding the city’s goals of effectively closing transit deserts in communities that need it most.

Gatik’s Self-Driving Delivery Vans Head North to Canada

November 23, 2020

Gatik has begun hauling cargo for Loblaws Inc., Canada’s largest grocer. The company joins Walmart on Gatik’s small but impressive list of clients. The steady scaling of the business has also won a $25 million round of investment at an undisclosed valuation, a deal that highlights an important incongruity in the self-driving sector: The most pragmatic — seemingly least ambitious — missions are making the most progress. 

Approaching commercialization, Lunewave raises $7 million

November 23, 2020

Lunewave, the Arizona-based startup developing a novel technology for radars for autonomous vehicles, has raised $7 million in financing as it gets ready for the commercial rollout of its systems.

GM, Motorq Unveil System to Streamline Fleet Order-to-Delivery

November 18, 2020

“We can track a $20 pizza, why can’t we track a $20,000 car?” The question came up in a conversation between Arun Rajagopalan, cofounder and CEO of Motorq, and a fleet management company in late 2019. It referenced the pain points in the lifecycle of a vehicle before it lands in the hands of its end user. 

Rajagopalan explains the series of phone calls between the factory, car carrier, dealer, fleet management company, or fleet operator...

Outrider reins in $65 million to automate distribution yards

October 28, 2020

The freight industry is inching closer to electrification and autonomy, and much of the action is taking place in the distribution yard. Among the beneficiaries is Outrider, a startup that automates yard operations for logistics hubs. On Wednesday, the Golden, Colorado-based company announced it had closed $65 million in Series B funding. Koch Disruptive Technologies led the round, with participation from existing investors NEA, 8VC and Prologis Ventures.

Motional partners with Via to launch a robo-taxi service in the U.S.

October 27, 2020

Motional, a joint self-driving research collaboration between Aptiv and Hyundai, today announced a partnership with Via that the companies say will serve as a blueprint for an on-demand, shared robo-taxi service. Ahead of the partnership’s launch in the first half of 2021, Motional and Via say they will build infrastructure to connect Motional’s driverless vehicles with Via’s technology that powers booking, routing, passenger and vehicle assignment and identification, customer experience, and fleet management.

Driverless middle-mile deliveries could begin by next summer

October 23, 2020

Sam Saad, head of operations for Gatik, an autonomous vehicle startup, explained during a fireside chat Friday as part of FreightWaves’ Cold Chain Summit, that the company could have driverless vehicles on roadways by next summer. Speaking with Kevin Hill, director of research and editorial for FreightWaves, Saad said that fully autonomous vehicles might be on the road “before summer rolls around next year.”

Ex-Tesla CIO’s Auto Retail Startup Turns Unicorn in New Funding

October 21, 2020

Tekion Corp., a cloud-based automotive retail startup founded by a former Tesla Inc. executive, has raised $150 million from backers led by private equity investor Advent International, lifting its valuation to over $1 billion. The four-year-old startup, whose cloud software connects manufacturers, dealers and car buyers on a retail platform, drew investments from Index Ventures, Airbus Ventures, FM Capital and Exor.

Aurora Labs raises $23 million to automatically detect bugs in car codebases

September 22, 2020

Connected car analytics startup Aurora Labs today raised $23 million, bringing its total raised to $34 million. Notably, the capital comes after Porsche SE expanded its investment in Aurora to $2.5 million, which gave the automaker a "low single-digit" percentage stake in the startup.

RAVIN.AI lands Fraser McCombs-led investment, announces GM for Americas

August 13, 2020

RAVIN.AI, a developer of vehicle inspection technologies, recently announced an investment round led by Fraser McCombs Capital, while also bringing on auto industry executive Jim O’Brien as its Americas general manager.

The company said in a news release it plans on using the funding round for North American growth and to further develop its platform.

Walmart’s self-driving partner is changing e-commerce economics

June 19, 2020

For a self-driving vehicle startup, Gatik has an odd mantra: don’t agonize over autonomy, worry about delivery. Specifically, the three-year-old company is focused on so-called middle-mile delivery, the oft-overlooked leg between when, say, a sweater is trucked across the country and when it is ferried over the last few miles and dropped on someone’s porch. 

Vroom CEO Paul Hennessy on company’s public debut

June 9, 2020

Paul Hennessy, CEO of Vroom, discusses the company’s IPO and outlook with CNBC’s “Squawk Alley.”

GuardKnox Rolls Out New ‘Cybertech Tier’ Vehicle Supply Chain Category

May 19, 2020

To bring about the next generation of service-oriented and software-defined automobiles, computing solutions provider GuardKnox has rolled out a new category on the worldwide vehicle supply chain called the Cybertech Tier. The move comes as the firm says non-traditional tech firms are changing the definition of the traditional supply chain to bolster vehicle innovation, according to an announcement.

Online used-car seller Vroom files for a June initial public offering

May 10, 2020

Online used-car seller Vroom Inc. is set to go public, according to a Wall Street Journal report today that the company has filed paperwork for a possible June initial public offering. Founded in 2013, Vroom pitches itself as an e-commerce platform designed to offer a better way to buy and sell used vehicles. The company employs “data-driven technology” to bring “all phases of the vehicle buying and selling process to buyers wherever they are.”

Optimus Ride pivots role of autonomous vehicles during COVID-19

April 14, 2020

Like many autonomous vehicle companies, Boston-based Optimus Ride paused its autonomous operations at customer sites due to COVID-19. The MIT spin-off is doing its part to observe social distancing and help contain the spread of the novel coronavirus. One of the places it paused operations was at Paradise Valley Estates (PVE), a retirement community for people ages 55-plus in Fairfield, Calif. Optimus Ride offers a point-to-point service for PVE residents within the gated community.